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The United States Securities and Exchange Commission gave preliminary approval to at least three of the eight spot Ether exchange-traded fund (ETF) issuers, Reuters reported on July 15.

Eight asset managers, including BlackRock, VanEck, and Franklin Templeton, are expected to receive SEC approval for their Ether funds on July 22, with trading commencing the following day, Reuters’s sources claim.

Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy are also contenders vying to launch their Ether-based financial products in the coming week.

Those filings are also expected for a simultaneous launch on July 23, pending final regulatory approval by the end of this week.

The latest report comes as Eric Balchunas, Bloomberg’s ETF analyst, said that the SEC has instructed Ether ETF issuers to submit their final S-1 filings by July 16. He added that those filings must detail the proposed fee structures for the new crypto funds.

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On May 23, the SEC approved the initial 19-b forms proposing rule changes to permit crypto-based investment vehicles. Asset managers now await approval for their individual S-1 registration forms. To address regulatory concerns, some issuers have modified their Ether ETF plans by removing staking provisions.

Anticipation around Ether ETFs has surged following the launch of spot Bitcoin ETFs in January. If insider claims hold true, the imminent debut of Ether funds will mark another major victory for the cryptocurrency industry’s mainstream ambitions.

Since their debut, the Bitcoin funds in the US have notched $16.11 billion in net inflow.

At the time of writing, Ether (ETH) trades at $3,432.84, up 12.1% in the past seven days, per CoinGecko.